Is it illegal to stash cash in your safe deposit box ?

Question

identity theft is rampid form bank accounts ! the 5% interest isn't worth it !

Answer 1

its your secure box.....put what you want in it.

I hear ya....4.3% on savings...what a joke. up to 22% on credit cards....you got to be kidding me.

I live off cash or debit cards....have no credit cards and only 1 car on a loan. I refuse to give my hard earned money away. And I even own a business and run it without credit and have for 11 years.

Answer 2

You can put cash in your safety deposit box, lots of people do just that. While identity theft is certainly a concern, i wouldn't let that deter me from putting my money in the bank. At least, if the bank went under, the money is insured, whereas, if someone broke into your home and took your cash, it's just gone........

Answer 3

I think it is illegal to store mass amounts of money elsewhere besides banks, but there are other ways to save money. Stocks, bonds, investing in gold, certificates of Deposit (Cd's). You might want to start out with savings bonds they are easy to buy, low risk, fairly low interest but better than banks.

Answer 4

You can put whatever you want in the deposit boxes, just make sure it isn't illegal.

Answer 5

Its safe...you already know about the interest thing...so other than that...you are good to go other than not having access to it 24/7...

Answer 6

I love the word stash.
the deposit box its yours ,you can put anything you want .
that's one reason you go get a safe deposit ,documents ,passport,birth certificates ,deeds.Cash ,Will's.Jewelry,
except ,weapons ,drugs,Missiles.

Answer 7

you could stash a poop in your safe deposit box if you wanted to, as long as you pay for it they dont care.

Answer 8

absolutely not. no different than jewelry or other liquid commodities

Answer 9

no